Credit

Credit is lending, and credit roles within banks can be broken down into two broad subcategories: those working as credit officers, and those working within credit risk. Credit officers are in charge of reviewing loan applications from individuals or businesses, and approving or rejecting based upon a determined set of criteria. Credit risk look more broadly at the loan book of the bank, assessing the potential risk and producing recommendations and limits as to how much overall and to whom the bank should be lending.Necessary Skills
As a credit officer, you'll be working alongside, or may even be placed in charge of, a dedicated sales team whose job is to sell your products - your loans. These teams will have sales targets to reach, which may ultimately be your responsibility. However, you need to strike the right balance between meeting targets, and lending responsibly. Compromise is a large part of the role.
Within credit risk the roles can be very mathematical as banks use and constantly develop statistical models to quantify and assess the risk that is being taken. These models are also vital for the bank to generate the criteria that need to be met before particular loans are accepted.
Along with a passion for finance, working in credit can require a much more rounded skillset. As part of the Canadian Certified Credit Professional (CCP) course, for example, individuals are required to take modules relating to business communications, economics, corporate finance, and financial accounting. For those aspiring to roles in credit, it may help to have studied these topics, or having experience working in a corporate accounting role.Expanding Opportunities
If you've worked in the credit sector for five years or more, you may wish to think about taking a course which will give you the title of CCP - Certified Credit Professional. You do not require this to continue working in the credit industry in the United States or Canada, but it can open doors. Becoming a CCP shows a dedication to the sector, and shows that you've got a solid knowledge of credit as a whole. Employers may favor a CCP over a non-CCP when interviewing for a position, especially if recruiting for a higher end role.